What are innovative ways airports can generate revenue beyond landing fees and concessions?

1 Offer premium services

One way airports can increase their revenue is by offering premium services to travelers who are willing to pay extra for convenience, comfort, and exclusivity. For example, airports can provide fast-track security lanes, priority boarding, lounge access, personal assistants, baggage delivery, or even private terminals for VIPs. These services can enhance the customer experience and loyalty, as well as generate additional income from fees or memberships.

2 Leverage data and technology

Another way airports can boost their revenue is by leveraging data and technology to optimize their operations, marketing, and customer service. For example, airports can use data analytics to understand the behavior and preferences of their passengers, and offer personalized offers, recommendations, and incentives. They can also use technology to create digital platforms, apps, or kiosks that enable self-service, information, and entertainment. These solutions can improve the efficiency and satisfaction of the airport processes, as well as create new opportunities for advertising and cross-selling.

3 Develop non-aeronautical assets

A third way airports can diversify their revenue sources is by developing non-aeronautical assets that can generate income from different markets and activities. For example, airports can use their land and buildings to create commercial, retail, or hospitality spaces that attract customers beyond travelers. They can also use their infrastructure and expertise to provide services such as cargo, logistics, maintenance, training, or consulting to other businesses or organizations. These assets can increase the value and competitiveness of the airport, as well as create synergies and partnerships with other stakeholders.

4 Promote sustainability and social responsibility

A fourth way airports can create value and revenue is by promoting sustainability and social responsibility in their operations, strategies, and culture. For example, airports can invest in renewable energy, waste management, or carbon offsetting projects that can reduce their environmental impact and operational costs. They can also support social causes, such as education, health, or diversity, that can enhance their reputation and engagement with their employees, customers, and communities. These initiatives can not only generate savings or income, but also demonstrate the airport's commitment and leadership in making a positive difference.

5 Innovate and experiment

A fifth way airports can find new ways to generate revenue is by innovating and experimenting with new ideas, products, or services that can meet the changing needs and expectations of their customers and markets. For example, airports can test new concepts, such as pop-up shops, co-working spaces, wellness centers, or art exhibitions, that can create unique and memorable experiences for their visitors. They can also collaborate with other innovators, such as startups, universities, or research centers, that can bring fresh perspectives and solutions to the airport challenges and opportunities. These experiments can help the airport discover new sources of value and revenue, as well as foster a culture of creativity and learning.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?